Asia-Pacific Panamax/Kamsarmax freights have weakened as slower NOPAC grain and Australian coal activity allows tonnage lists to build across key export areas. Recent Indonesia, Australia and Far East fixtures reflect softer overall conditions, although selected Australia–India coal runs continue to provide comparatively stronger returns.
Fresh fixtures

Ukrainian coaster freights are rising almost daily, as escalating military risks and owners’ growing reluctance to call Izmail and Reni sharply tighten available tonnage; securing vessels for POC shipments is now particularly difficult. Rates ex Russian ports are increasing more gradually, while levels from other Black Sea origins remain broadly flat.

Fresh fixtures & coaster assessments

The US Gulf Handysize and Supramax/Ultramax markets have opened the week softer, with late July–early August tonnage supply exceeding fresh cargo demand and weaker Panamax rates adding pressure on transatlantic business. Owners are lowering offers to secure employment, although expected record grain demand in Q4 should provide broader support across vessel sizes.

Fresh fixtures

Black Sea and Mediterranean Handysize/Supramax conditions remain highly uneven amid rising war risks and limited Ukrainian grain activity. Supramax rates are supported by firm EU grain demand and tight EMed tonnage, while Handysize employment remains under pressure and Russian-origin freight continues to firm.

Fresh fixtures & Handysize/Supramax assessments

Baltic and Continent Handysize/Supramax owners are pushing rates higher, supported by firmer cargo demand, rising bunker costs and a limited regional vessel count. Russian-origin business continues to command a premium over European cargoes, with stronger ideas particularly for fertilizer and long-haul trips.
Fresh fixtures & Handysize/Supramax assessments

Asia-Pacific Panamax/Kamsarmax freights are showing signs of recovery, supported by stronger coal demand from Indonesia and Australia and tighter vessel availability across the region. Recent fixtures also point to firmer owner sentiment on NOPAC and Indian Ocean routes, with Kamsarmax and Post-Panamax returns generally outperforming standard Panamax levels.

Fresh fixtures

Mediterranean coaster freights remain under pressure as fresh cargo demand is insufficient to absorb available tonnage. Owners are testing slightly firmer ideas, particularly on longer-haul steel and fertilizer routes, but higher bunker costs are limiting any real improvement in returns.

Fresh fixtures & coaster assessments

Black Sea small-tonnage freights strengthened sharply ex Ukrainian ports early in the week as a severe shortage of willing vessels supported owners’ ideas, although the market showed initial signs of stabilisation closer to the weekend. Russian-origin rates also edged higher, while shipments from non-premium EU, Turkish Black Sea and Georgian ports remained under pressure due to the long tonnage list.

Fresh fixtures & coaster assessments

Atlantic Handysize and Supramax/Ultramax sentiment is softening as fresh enquiry remains limited and tonnage availability continues to build, with competitively priced Panamax vessels adding further pressure on the Ultramax segment. ECSA and West Africa fixtures still show selective support on longer-haul and Mediterranean trips, but rates are likely to remain under pressure unless new cargo demand emerges.

Fresh fixtures & Handysize/Supramax assessments

Black Sea Handysize and Supramax freight remains sharply divided: rates for Ukrainian and Russian cargoes stay exceptionally high as owners avoid regional ports and demand substantial risk premiums, leaving fixtures sporadic and bid/offer gaps wide. By contrast, business from EU and other Mediterranean ports remains under pressure amid excess tonnage and limited cargo availability.
Fresh fixtures & Handysize/Supramax assessments

Baltic and Continent coaster freights remain under pressure in early August, with weak cargo demand and a long tonnage list pushing rates down by €0.5-2/t across major routes. Lower bunker prices have further weakened owners’ resistance, while some business continues to be concluded off-market.


Fresh fixtures

USG/USEC Panamax/Kamsarmax rates have firmed as active fixing and fresh grain demand absorb available tonnage, particularly on transatlantic routes. Owners remain reluctant to offer fronthaul business, keeping availability limited and supporting stronger returns into the Mediterranean and Asia.

Fresh fixtures

Black Sea coaster rates continue to firm despite some signs of slower Ukrainian and Russian exports, with growing cargo interest from the Ukrainian Danube ports allowing owners to maintain higher ideas. Grain fixtures from Izmail and Reni are being concluded at firmer levels, while the non-premium Constanta/Bulgaria/Turkey market remains noticeably softer.

Fresh fixtures & coaster assessments

Mediterranean small-tonnage freights show a mixed trend this week, with slightly better fertilizer demand mainly supporting vessels above 7k dwt, while activity for smaller cargo lots remains limited. A long tonnage list and lower bunker prices continue to cap owners’ upside, with some 3-6k dwt fixtures concluded slightly below previous levels.

Fresh fixtures & coaster assessments

ECSA Supramax/Ultramax sentiment continues to soften, with rates easing across most routes and the sharpest pressure seen on T/A trades. Limited fresh cargo demand and a growing tonnage list are also weighing on the Handy sector, while Supramax vessels face increasing difficulty securing suitable employment from the region.

Fresh fixtures & Handysize/Supramax assessments

North European Handysize/Supramax rates remain broadly flat in early August, with modest cargo flow and a persistent bid/offer gap keeping activity subdued. Russian grain and fertilizer shipments continue to provide support, while charterers are testing slightly lower levels and occasional scrap demand adds some short-term activity.

Fresh fixtures & Handysize/Supramax assessments

Mediterranean Handysize/Supramax freight sentiment remains sharply divided, with scarce tonnage for Ukrainian and Russian ports pushing rates higher, while cargoes from EU ports, Turkiye and North Africa face increasing downward pressure. Premium Black Sea grain business continues to command strong levels, contrasting with much weaker returns on conventional Mediterranean trades.

Fresh fixtures & Handysize/Supramax assessments

South Atlantic Panamax/Kamsarmax freights have edged higher this week, supported by healthy fronthaul activity and improved fixing for early September laycans. Charterers are testing lower bids for the second half of September, but owners continue to resist, keeping offers firm amid a more active ECSA market.

Fresh fixtures

Mediterranean small-tonnage freights remain broadly stable despite a long tonnage list and relatively modest fresh cargo demand. High bunker prices are helping owners resist further pressure, while recent fertilizer, steel and cement fixtures indicate limited upside across the basin.

Fresh fixtures

North European coaster freights remain under pressure at the peak of the summer holiday slowdown, with limited spot cargo demand and a slightly longer tonnage list weighing on owners’ position. Indicative rates are broadly stable, but many deals are being concluded below spot ideas as charterers negotiate aggressively ahead of the expected seasonal market turnaround.

Fresh fixtures & coaster assessments

Black Sea coaster freights show a mixed trend: Ukrainian rates have eased from last week’s highs despite a further increase in grain enquiries, while Russian levels vary widely by cargo and dates. CVB and Turkish Black Sea rates have stabilized after bottoming out, although owners’ daily returns remain weak across many fixtures.

Fresh fixtures & coaster assessments